Skip to main content

About this Show

Your World With Neil Cavuto

News/Business. Money tips from Wall Street. New. (CC)

NETWORK

DURATION
01:00:00

RATING

SCANNED IN
Annapolis, MD, USA

SOURCE
Comcast Cable

TUNER
Port 1236

VIDEO CODEC
mpeg2video

AUDIO CODEC
mp2

PIXEL WIDTH
720

PIXEL HEIGHT
480

TOPIC FREQUENCY

Us 8, America 8, Obama 8, Huckabee 5, Craig Smith 3, Spain 3, Obama Administration 2, Adam 2, Verizon 2, At&t 2, San Diego 2, Bush 1, Neil Cavuto 1, Boehner 1, Mcconnell 1, George Bush 1, Lg Revolution 1, Obama 's 1, Fed 1, Norisk 1,
Borrow a DVD
of this show
  FOX News    Your World With Neil Cavuto    News/Business. Money tips  
   from Wall Street. New. (CC)  

    July 8, 2011
    4:00 - 5:00pm EDT  

4:00pm
neil cavuto starting right now. >> stocks falling and companies barely hiring, and is it all over this debt limit squabbling? 18,000 is how many jobs were created last month. 18,000. unemployment rate climbing to 9.2 percent and businesses adding the fewest jobs in nine months. the president? blaming the jobs numbers on uncertainty whether lawmakers will hike the debt limit. and others say it is not the uncertainty of the debt limit that is causing it. craig, the president says it is uncertainty of the debt limit but i have a feeling you will say it is uncertainty of other things. >>guest: it wasn't uncertainty over the debt ceiling six months
4:01pm
ago or a year ago or two years ago. look, we have had three false dead loins. may 16. july 2nd. july 8th. now august 2nd. it is ridiculous. the only certainty that the obama administration and mrs. pelosi will give me is the certainty they will borrow more money, they will waste it on programs that have failed the american people in creating jobs. it is time for this president to move out of the way and allow private business to create jobs. now, if he wants to help i have a word of advice: why in the start talking positively about this nation? a president can create an air of confidence giving people like me the confidence to go out and spend money and create jobs. but antibusiness as this president has been, jack welch said he is the most antibusiness president we have ever had and you cannot vilify the oil companies in one breath and tell them to go hire people in the next breath. you can't did it.
4:02pm
>> if the legislates was passed that was not to your liking if the tax code was changed, and maybe you paid a little bit more in taxes than you are right now, which i am sure you would like and you would not think is fair, if you knew you were doing that, would that help you, three or five years if you paid more today but you know what you are paying? >>guest: yes, that would help. no doubt. but raising taxes is not the answer here. look, you have heard this over and over again, it is not a revenue problem but a spending problem. let me tell you what i would lick to see, i would like to see the american government say we will raise the debt ceiling but well slash spending and not raise taxes. we will give it two years to see what happens. we will go ahead, like under the bush administration, he raised the debt limit six times for pete's sake but this time we mean business and that is why i appreciate mr. boehner saying, look, we want significant spending cuts and we will in the raise taxes and then they know
4:03pm
american is sincere about getting their house in order. we cannot kick this can down the road. you and i know it. the american people taxpayers know it and that is why in 2010 they said "enough is enough," and to consult spending. if president obama had it his way the bush tax cuts would have expired. can you imagine the shape we would be in at 9.2 percent unemployment it would be above 10 percent. this president is probably a very decent man. his policies have failed chris. you don't continue to make the same mistakes when what, he said, let's extend the tax, the payroll tax cut. they have in the worked. >> there seems to be momentum in changing the tax code and doing away with a lost the tabs breaks and loopholes and what not and lowering the overall rate but making everyone pay that rate. is that a good idea? >>guest: well, yes, i do, and i think that closing the
4:04pm
loopholes makes a lot of sense. i think most americans would agree with that. if you have somebody applying games on their taxes we all have a stake in this. we all have a big stake in america succeeding. so i believe we should have a more equal, fair tax system. but i can tell you, to vilify a group of people and to say to the jet owners if we continue to give you tax breaks we will take money out of granny's social security check that is a false choice like raising the debt ceiling. the research counsel, a bipartisan group, has said we will not default on our debt, we have enough money to pay social security, medicare, medicaid, government contractors and the military, current military people, and veterans, and still have $7 billion left over after august 2nd. so let's stop with the false choices and get on with the real business. >> there is a bifurcated thought process on what will happen on august 2nd. always good to chat with you,
4:05pm
craig. craig smith, thank you. and now, the sunday she down, the job numbers give republicans more am fission to -- more ammunition to fight off tax fight discussions. i guess it depends on who you ask? >>governor huckabee: i wish craig smith would run for senate or congress. the people out there in business understand. and they get it. and, unfortunately, this administration doesn't get it and i think as we look at the debt limit the republicans have to communicate very clearly that the world does not come to an end if they, in fact, say we will not vote for the death limit. people are acting like everything will shut down. like cars won't run. and somehow--. >> we hear dire predictions from some admittedly smart people, whether it is geithner or others. >>governor huckabee: i am in
4:06pm
the going to put him in the real smart category because he doesn't do his own taxes. if he is so smart he should change it. geithner and all the guys play games with the american people. this is the same president obama who, four years ago, five years ago thought it was perfectly fine and urged and begged the debt ceiling not be raised and said it was a sign we lacked leadership if we raised the debt ceiling. >> there are politicians on both sides playing this game and it is not that dangerous of a game because we will get to august 2nd and the sun will come up and we will continue and we will find a way to make it work. >>guest: it does not mean we immediately default. the treasury has the opportunity and the ability to pay for the debt but it does not mean every social security tax being sent. if the obama administration wants to play that game and create a bigger crisis, then,
4:07pm
they have the right but republicans need to hold their feet to the fire. >> new we have 9.2 percent unemployment and i know that rate is just one of a series of numbers that is important but it is not good, and you and in the st. louis it anyway. what does this mean politically as we head to 2012? the president is saying, look, job creation is job number one for me, and i have heard some talk about another stimulus program to throw out there for more shovel ready, and were not exactly shovel ready. >>guest: throw the shovels away. >> the report seems to open up new windows and doors. >>governor huckabee: well, i hope it does. but i hope the window it opens is freshening the air in the white house. if you take a lit match and put it in a can gas and it blows up, get rid of either the match or the gasoline. at some point the president is going to have to accept the fact that his economic policies are failing. they're failing.
4:08pm
failing. and what i hear when i hear a competent c.e.o. like you had in craig smith, who says, look, it is not we don't want to hire but we can't hire people when we don't know what it will cost with the taxes a year from now and do not forget the regulatory cost. if epa declares when we exhale breath we have to pay a tax, we have problems. >> was this the death for tax raises because we are not in connection with the debt ceiling or does that possible still it is on the table, and will that be the death knell for a g.o.p. can state that allows that to happen? >>guest: the democrats believe a little more tax is always a great thing, but, keeping the debate framed, always this way, a tax increase is an admission this government is in the big enough yet, because when you raise taxes you are raising taxes to give the government more money so it can get bigger and what the republicans need to do is go up and down the streets of america and say is there
4:09pm
anybody in the country who thinks that government is just in the big enough, that we have to agree this sucker because it is so small that if we can put more milk in its mug it will get bigger and stronger. is there anybody, anybody, anybody in america who honest to god believes our government is too small? anybody? >> our government is shrinking when you look at the jobs numbers the number of people that are employed, the government is taking the hit the most. that is true because the state and logical governments are shrinking but the government employees even at the state and logical level are put on the unlimit lines and the private sector is in the growing to pick up the slack. >>governor huckabee: we are talking about a federal tax increase, not a state stacks increase so local employees are losing jobs, state employees are losing jobs and the federal government keeps growing. but the talk is that it would be the federal tax that will be increased not the state and logical taxes, so, federal taxes do not rehire state and local
4:10pm
workers whether they picking up trash or tending to parts or patrolling streets. >> will we have a deal that changes the tax code, net zero sum game, no additional revenue but changes the tax code and we have a significant reduction in spending to both sides give the nod? >>governor huckabee: i hope we get a change in the tax code. not a tax increase but everybody would welcome the requested of lowering rates and maybe everything have to put some skin in the game. a tax reform is a much better objection than a tax increase. >> remember to scratch the governor on saturday right here on follow. i know you have a great show. why are i.c.e. agents telling people to business themselves today? it is comments like these that are resonating. >> shovel ready was not as
4:11pm
shovel ready as we expected.
4:12pm
4:13pm
4:14pm
all with unemployment soaring, physical ads focusing on jobs are registering with the voters and some ads are on both sides. you are looking at two spots. >> yes both have a lot of news and both are, have the potential to be influential because they are very direct and there is no pulling punches and realize we are only in july and yet the public is still watching politics. this first one challenges obama and makes fun of him for an embarrassing comment he made, the red are republicans and green are democrats and the higher they climb the more favorable the reaction. and now a look. >> our economy is now growing at a good club.
4:15pm
>> but "meet the press," says these are the facts. unemployment up 25 percent. national debt up 35 percent. the price of gas up 104 percent. obama's $80 billion surplus, failed. >> shovel ready was not as shovel ready as we expected. >> 14 million out of work. america drowning in debt. time to take the obama blank check. >> there is a key finding here. we have done almost 200 testing in 2011. when you give facts the public responds more favorably and that ad did well among democrats and republicans because you cannot twist the facts. they are what they are. >> you have that ad, a g.o.p. ad and another ad more favorable toward the democrats. how did that score? >> it did not score as well because it was more political
4:16pm
and it was more partisan, and you will see a more divided reaction. take a look. >> we are americans. we know right from wrong. and we know the ads blaming president obama for the economy are politics as its worst. the republicans have opposed economic reforms as every turn and now they have a plan that would essentially end medicare for future retirees, slash education while giving huge tax breaking to big oil. we cannot rebuild america if they tear down the middle-class. >>guest: you see, it's more about politics and that is more political ad and it does not have stats and much more focused on accusing the republicans of doing something rather than reporting what is actually happening. that is a reason why it does not do as well. >> i notice on the gravity ended with g.o.p., 34, how is that in relation to what is an extremely favorable score?
4:17pm
is 100 extremely favorable? what is negative compared to the thousands of ads you have looked at? >> the goal is to get your side over 70 and that is intensity and to get the opposition up to 50 so that ad failed. it did not appeal to core democrats because they don't just want to attack republicans if you are a democrat watching today you want your side to do well and you want america to do well and that hitting that direct attack actually turns voters off. when you focus on the first republican ad it is specific, it is factual, and it just really relates to people who feel like, our economy is in the become, the jobs are not coming back, we spent a lot of money and we were promised a lot and the president did not deliver. last, when you use the words of your opponents themselves, them actually speaks the words, that makes it so much more powerful so they do not visual a
4:18pm
president obama saying we were not shovel ready, that will hurt between now and election day. >> and to the g.o.p. it is what people in the g.o.p. and those who support the g.o.p. have been saying for a couple of years and they see the president say it and they say that is what i have been saying and now the president is agreeing with me. >>guest: don't forget, the key is the independents. in the end they will determine which side wins. and they don't like the partisanship. they don't lick the negativity but they dislike most the wasteful washington spending, the stimulus that does not work, and an unemployment rate that is going up. not down. >> one other question about that when the president said shovel ready was not as shovel ready as we hoped. and we have unemployment at 9.12 percent and the white house saying if we do (a) and (b) and (c) we low pressure to get it down to 8.2 percent by end of
4:19pm
2012 and ronald reagan is the only president ever to be re-elected with unemployment rate above 7 percent. how damaging is that to the president's re-election hope? >> it is incredibly damaging and i listened, today, to the press conference when he accused the republicans in congress of being responsible for this. president obama for two years united states pelosi and harry reid did anything that he wanted. and he and biden made have very explicit promises and we will see the video from time to time. those promises have not been kept. the numbers are getting worse and we have a $14.3 trillion debt as a result. you come boyne the -- come up with combining these two things, and no one has acknowledged that president obama is in trouble and i know a lot can happen between now and 2012 but for the first time watching how he is responding, he has a problem.
4:20pm
a real election problem. >> last two job reports have been disaster. frank, always good to chat with you. thank you, sir. ahead of sunday's debt meeting, forget 2011, think 1990. that is ahead. ♪ [ male announcer ] what is the future of fuel?
4:21pm
the debate is over. ♪ lexus hybrid drive technogy is designed to optimize any fuel source on the planet. even those we don't use yet. because when you pursue perfection, you don't just engineer a future-proof hybrid system. you engineer amazing. ♪
4:22pm
4:23pm
>> and now in two days the president will meet with lawmakers on both sides in hopes of finding debt limit middle ground. but is history providing a frightening picture of what will result? we are talking about debt deal struck in knew when president bush promised hikes with the
4:24pm
cuts it go long with it and spending went up. and now, my guest is worried about going back to the future with "promises, promises." that was a song from 1984. and in knew, -- and in 1990, do we have choice, do lawmakers have a choice but to make a promise and hold someone's feet to the fire? >> let me tell you something, i remember it as if it was yesterday when president george bush senior went back on the "no new tax pledge," and i was driving my car with the radio and the news broadcast came on and it said president bush has just announced he will agree to raise taxes. and i almost got interest an accident. and i said what? he did what? so, that sticks in my mind. and there is no question, history is very clear, when president bush did that, that is why he did not get a second
4:25pm
term. conservative voters abandoned him. why is that important today? i believe, chris, if republicans abandon their no tax position, by that i mean if they agree to a net tax increase, i believe president obama will be re-elected and republicans will lose the congress the it is that important. republicans need to stick to the promise they made to cut spending and not raise taxes. >> is there something that could be done? is there anything that i don't be done to hold the democrats' feet to the fire in terms of you made this promise, we agreed to this, in the summer of 2011, and as we move through the reminder of the year and interest 2012 anything that could get them to say this is the incentive to hold up your end of the bargain. >>guest: i don't there is a plausible scenario joe -- to raise taxes. if the deal the democrats and president obama agree to cut tax rates and we have talked about this for a long time, if you can get the tax rates, sure, close
4:26pm
the loophole and i am willing to accept, maybe, other tax increases to pay for the reduction in tax rates but if it is a net tax increase and the american people think the republicans have abandoned their sacred pledge this is what the republican party is about it is a big political problem. >> what type of production are you talking about? give us a little bit of a framework? >>guest: we dent know, the numbers are changing each day. the last i heard was that president obama and mcconnell and speaker boehner were talking about getting the top corporate rate down from 35 percent to 25 percent and that would be wonderful. if we do that we will bring the personal income tax rate down to 25 percent because as you know, most small businesses pay the personal income tax rate so i don't think there is fairness to bring corporate rate down lower to somewhere maul businesses are not but if you get the rate done to 25 percent, close all the loopholes. i'm all in favor of that.
4:27pm
>>chris: 18,000 jobs, a train wreck that jobs report and i heard two things: additional stimulus, and more easing because of the jobs report. comment on both of those. >>guest: first the idea of another economic stimulus plan when we heard have $14.5 trillion of debt is laughable notion and that with go nowhere. the fed, the big question is, will there now be a qe3? we had one and two and i think this bad employment report suggests and moves the fed toward another massive printing of money and you know what? it doesn't work. qe1 and qe2 didn't work, why try it again? there is an old saying, the fed can print money but it can't print jobs. >>chris: thank you, steve. great way to end it.
4:28pm
we appreciate it. i.c.e. agents are warning americans, brace yourself for what is coming, one of the agents joins us to tell us about it and why people are having trouble finding workers and why isn't anyone biting? out of the.
4:29pm
4:30pm
4:31pm
a $29 value, free! get the protection you need right now. call or go to lifelock.com to try lifelock risk free for a full 60 days. use promo code: norisk. plus get this document shredder, free! but only if you act right now. call now! lifelock service guarantee cannot be offered to residents of new york. >> we are invest asking
4:32pm
rebuilding roads and bridges and rail and infrastructure. >>chris: president obama needs to come up with hundreds of thousands of jobs before the unemployment rate will drop and the plan is to pour more money into fixing bridges and roads and that is what a president did a few years ago. with the stimulus package. it did not work the first time. and now, charles, here to discuss this. the infrastructure is crumbling, in denying. bridges and roads need to be fixed but the problem is, the first round of stimulus was very expensive and did not get the job done. will another round do it? >>guest: it did get the job done. >>guest: they are still crumbling. we had over a million that lost their jobs in the biggest recession in generations but if we did not have the stimulus we would have fallen off the cliff. we would be in a more drastic situation than now.
4:33pm
these proposals that are on the table that have incredible bipartisan support in congress, congress needs to act now. yes we have to continue the conversation around the deficit and restructuring our debt ceiling and making sure we don't not stop making investments in innovation. but, congress can do this right new. because these report numbers, this is something americans do before the job numbers came out. >> and a poll says less than a third thought the first stimulus helped the committee. stimulus can be a very quick jolt. but longer term, it wears out over a while and the first has worn out. >> your point, one person's stimulus plan is another person's spending excuse, i -- here is a way to look at what we are talking. spain. spain went on an incredible economic expansion. they built 1,200 miles of highways. the largest high-speed rail network in all of europe.
4:34pm
they have 43 international airports. but 30 of them are empty. we can create temporary jobs. but the unemployment rate in spain right now is 20 percent! so it is not about creating temporary fixes but about unlocking the potential of the country and the president did not tuck about that today. >> the president has been working diligently, let's try to agree on something. can we agree on the fact we have get to pass this bill so we can have our entrepreneurs able to create and make products more efficiently? the trade bill, that is something we can agree on. >>guest: i can't want them to be demachinized for being successful. >>guest: these are on the table. congress can do this now. why isn't congress acting right new? why are they sitting back. >>guest: this is hijacked by the t.a.a. which is the program
4:35pm
that has been around for 50 years but suddenly a multimillion dollar program is a billion dollar program where union members get unemployment benefits for 154 weeks, health insurance, retraining, and it makes you want to be unemployed. that is holding that up. these things that the president talked about have bipartisan support without all of attachments, the special interest stuff. that should be left aside. >>guest: i find it amazing, though, we have the opportunities right in front of us and instead of continuing the fight of saying, no, to this administration, saying no to the americans who is last eight million jobs not because of president obama but he is taking responsibility by saying, we have to make, take these steps. >>chris: i don't if anyone is taking responsibility. i heard yesterday, yesterday, i heard him say that it is not the jobs that everyone lost during the previous administration, but all the jobs that were gained during this administration, but
4:36pm
the--. >>guest: 2.2 million jobs the last 16 months, that is impressive. >>chris: you mention that the patent reform bill is part of a plan put out today and said, look, we help to get to 8.to percent unemployment by the end of 2012 and that will not do it. i look at charles' point of the payroll tax cut and my guest earlier said that did not work and it will not work again and we are extending the same things that don't work over and over and over again. >>guest: when you lock at what private economists are saying, step out of the white house and the president's advisers all in support of passing the patent and trade bill, and making sure we extend the payroll tax cuts, and i fine it amazing in the republican presidential debate that happened a few weeks ago, the words "middle class," were not mentioned. there were in programs put on the table to increase jobs in the private sector.
4:37pm
>>guest: i hate the term, i look as america as a place where people can move up and done the chain of success depending how hard they work and i think that's what is missing. people did not believe that anymore, and the president keeps missing an opportunity to unlock that by focusing on pet projects and maybe adopting some things but with strings attached. >>guest: how is allowing entrepreneurs to get their patents smoothly and more efficiently through the system, how is that a pet project? these are things--. let's look at--. >>guest: more spending is a pet project. >>chris: we can fine agreement but i don't know if this is enough. we need agreement on bigger issues. >>guest: and i agree she looks fantastic. >>chris: and she was in the complaining how cold the studio is. shocking new claims from a big number of i.c.e. agents saying a plan is in the work dozen keep illegals here in america.
4:38pm
permanently. and one agent is coming up next. . verizon claims i 4g lte is twi as fast as &t.
4:39pm
we're putting them to the test against the speed of a rescue unit. go ! they're downloading a music album. the first network to finish gets rescued. does your phone know that we're racing ? done ! verizon's done ! i've got seven left ! the fastest networin america. verizon. built so you can rule the air. now powering the lg revolution.
4:40pm
[ malennouncer ] if it's tr that sharks can sense even a drop of blood from a quarter of a mile away, which razor would you use? ♪ ♪ ♪
4:41pm
>> i.c.e. acts have a warning, get ready for an immigration nightmare, the white house and cuss dodges enforcement are crafting a plan giving incentives to illegals to stay in the country to win over votes. and now, chris represents 7,000 i.c.e. workers. what is going on? >>guest: thank you, where do you want to begin? with the new memo recently put out by i.c.e. >>chris: what does that mean, prosecution discretion? >>guest: we have discretion in the field as officers to make decisions whether individuals stay inic custody or are arrested at all but the reality if you look at the policy, it is specifically stating that the director of the agency has that delegated authority, not officers, and it is sent to the supervisors in the field who
4:42pm
will be ordering our officers to release people or not arrest them at all. >> great my understanding, a memo from the i.c.e. director that has the discretion, the prosecution items, two dozen items if there, where, somebody could say, look, i joined a church or i went to high school here in the states, or i have a family member who is in the military, and if one, if an individual falls into any of the criteria you have to let them go? >>guest: well, according to that policy, if the i.c.e. director says we have to let them go we have to let them go. i want to be clear this is a far reaching policy. a lot of people are under the misconception this is only going to affect secure communities. but that is not the case. this is going to effectivery arrest we made nation-wide. and if you lock at our numbers last year alone, we deported
4:43pm
about 370,000 people. in addition, we arrested and came in contact with a lot more. so, the two dozen or so criteria which it says in the policy is not an exhaustive list we will have to apply those to approximately 500,000 cases a year and this will be a couple of thousandic agents in in -- thousand i.c.e. agents in the field. >> you would rather let somebody go, rather than detain them, arrest them, even deport them and maybes there your job. is that what you are thinking? >> our hands are tied and i want to be clear. as officers and agents in the field we have no discretion, zero discretion, as to whether the folks are arrested or detained. and if we don't follow those orders, yes, we will be putting our jobs on the line and i
4:44pm
specify, too, that the managers in the field don't approve of this policy. they are speaking to us. a lot of them want to defect. and they are letting us know we are afraid of losing our jobs if we don't follow this policy, as well. >> chris, we appreciate what and now to the other side, the representative of the i.c.e. agents who do not belong do that union. we did reach out to i.c.e. director for comment and he was unavailable but we appreciate you coming. there seems to be a lot of ambiguity. is that a big problem that chris and the union that he is part of, is that one of their problems? >>guest? there is ambiguity, the direct approach is taken right to the source. if i have an issue, i call his office and i address it. before i put forth my position on this, we agree to disagree. we have a professional understanding. in this case i represent members who come from 65 different law
4:45pm
enforcement ages and i see this memo as a common sense memo that says, your priority in terms of how you spend your time should be directed as those who are a threat of national national security and affiliated with gangs. each day you exercise discretionary authority and all tax paying americans want us, with our limited resources to prioritize our time chasing the worst of the worse. >> why do they have the two dozen criteria and maybe more according to chris, that it could be more expensive, why is that if you are giving the discretion to the officers? it sounds like you are giving discretion and then taking it away, as well, by including these whether you have a family member in the military or part of a clutch? >> the list is meant as a reference point, as a list, as cry fear i -- criteria. but you are talking about tying hands this unties the brain and
4:46pm
allows the officer to assess each situation what you will pursue this. all of the agencies are underfunded and we don't have enough. more of us are getting killed in the loin of duty because there are not enough. congress is in the funding us properly so we have less resources in the field. we should spend our time protecting the homeland and protecting members. >> is it new, a new policy? something that has caught the i.c.e. agents by supplies? >>guest: it is a continuation of a concept which is, you need to make the executive decisions out there in the field. your boss is not out there. when you come cross things, you interview aliens you have to make decisions and report back to your boss. if i found out as a representative of law enforcement officers this was a clever ruse to put the amnesty program i would be dancing on the table. it is not. think of this: if you until this memo their staff will be less so if they arrest and deport less
4:47pm
at the end of the year they have let to brag about. how will that be a campaign piece for the president? >>chris: it will be a campaign piece because the president wants the votes, wants these people to vote for him in the next election and he does thought want them deported or their family members to be deported and he wants the families that are legal voters to be here and say the president helped my family, and i will vote for the president. >>guest: or they could be criticized for not producing the same level of statistics and i am less concerned about those who vote. how do we know what message of this audience are voters? my concern is not them. my concern is protecting americans and this memo says go after the worst of the worst, the biggest threat. we don't have enough beds it detain every single alien. >> it is a resource issue, that is for sure. need a job? we will take you to a place with
4:48pm
thousands of high-paying jobs.
4:49pm
4:50pm
4:51pm
>> need a job? hit the surf. it appears san diego is the place to be. and now, to the job boom on the california coast. adam? >> yes, san diego is known for beautiful beaches, close to the border, a lot of culture, great place for vacation and great place to find an open job. by several different estimates they say at this hour there are 8,000 open jobs in i.t. and
4:52pm
engineering and the median income is $94,000 a year. we went to san diego and talked to people in the area including the chamber who say it could be a beach town but that image has more prongs, if you will, and, we talked to a nonprofit recruiting area and they say in some cases people are offered rewards to help others make the jump. take a listen. >> san diego a lot of people think of as a border or beach town but with we are is innovation center. >> the companies are offering rewards, bounties, to employees for finding other engineers to come on board. >> we talked to a recent convert who was working in the silicon valley and made more money up there but the cost of living in san diego is more afford average, the commute is short, and you and in the boat the weather and she says this. >> everybody talks about the bay area. silicon valley this, silicon valley that, but the
4:53pm
opportunities here are as good, the jobs are fantastic and this is a lot of support. >> a lot of support but why is san diego getting the people to apply? the silicon valley is the mecca for high-tech jobs and everyone thinks that is where you have to be and some of the other emerging areas like austin, texas, and north carolina, you are talking about the same median type salary, $94,000 a year but the home prices are $100,000 cheaper. and biotech and green tech is doing well. >>chris: thank you, adam the it could be a boom in san diego but not the case across the country, with vacancy rates at the biggest malls now at 9.3 percent and that is higher for strip malls at 11 percent. and the owner of a small printing business sees a ripple business. perfect printing is your
4:54pm
business and a lot of the customers are in strip malls. what do you see with your customer base? >>guest: what is going through the business owners' mind we have been through a devastating couple of years and we blued significant personal assets back into the business just to get them to survive and we see increased regulatory enforcement from government agencies including epa and osha and a health scare law coming online in a year or two that has huge amounts of unknown regulatory burden and a president that feels that certain businesses favor tax credits and cuts and other businesses should pay more and that is creating huge uncertainty and unreallyness to invest or start a business. >> we were talking about middle-class and what the middle class is and the $250,000 level
4:55pm
which annoyed me from the start, because i don't what, exactly, that means and small business owner, does that annoy you when someone says at $250,000 you are rich but you could be paying the business taxes as a personal tax rate? >> there is a huge misunderstanding by a lot of the politicians as to business profit versus actual income and there have been years where i have had to take a loan out in order to pay my federal taxes. so, when the president talks about paying your fair share or paying more what that does is rob me of the resources of myself and other small business owners that we use to expand our businesses and pay our employees more. >> you actually, you are a perfect example of what the health care bill is doing with 46 employees, right? you don't want to get to employee 50 and suddenly have a new set of regulations, do you? >>guest: the implication if we
4:56pm
go over 50 employees, right away, i am then bound to provide insurance to my employees, and it puts me in a position where i can receive significant fines if my insurance doesn't meet the standards and we still are evaluating and that is where the unknown comes in and you don't want to invest because i'm not willing to take the risk until more is known. >> and i will check back with you in a few months and see where it stands. thank you for your time.
4:57pm
. [ male announcer ] this...is the network -- a network of possibilities. in here, the planned combination of at&t and t-mobile would deliver our next generation mobile broadband experience to 55 million more amecans, many in small towns and rural communities, giving them a new choice. we'll deliver better service, with thousands of new cell sites... f greater access to all the things you want, whenever you want them. it's the at&t network... and what's possible in here is almost impossible to say.
4:58pm
4:59pm
one hour on fbn, a job creator who knows how to bring back jobs. the straight shooting ceo up here, d.j. rogers. he will join us. i'll see you at 7:00 eastern, i'm filling in on lou dobbs. wif the